Ocado.com, the world’s largest dedicated online supermarket, operated by Ocado Retail, is amongst the first grocery retailers to have SBTi-validated targets including those originating from forests, land and agriculture (FLAG).
The Science Based Targets initiative (SBTi), a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science, has approved Ocado Retail’s near-term and Net-Zero science-based targets.
Our Near-Term Targets:
- Energy and Industrial:
○ Reduce absolute scope 1, 2 and 3 greenhouse gas emissions 42% by FY2030
from a FY2021 base year
○ Active annual sourcing of 100% renewable electricity through FY2030 - FLAG:
○ Reduce absolute scope 3 FLAG GHG emissions 30.3% by FY2030 from a
FY2021 base year
○ No deforestation across its primary deforestation-linked commodities, with a
target date of FY2025
Our Net-Zero Targets:
- Energy & industrial:
○ Reduce absolute scope 1, 2, and 3 greenhouse gas emissions 90% by FY2040
from a FY2021 base year - FLAG:
○ Reduce absolute scope 3 FLAG GHG emissions 72% by FY2040 from a
FY2021 base year
The latest climate science from the IPCC demonstrates that it is still possible to limit the global temperature rise to 1.5°C, in line with the Paris Agreement, but that the threshold is dangerously close, meaning the need for rapid and deep emission cuts is crucial across the business world. The validated targets will see Ocado Retail work towards its commitment to become carbon Net-Zero by 2040 through its Planet Together strategy. Emission reduction priorities are centered across low-carbon supply and operations, low-carbon logistics, sustainable agriculture and diets as well as innovation and advocacy.
Laura Fernandez, Senior Sustainability Manager at Ocado Retail, commented “We recognise the importance of achieving our ambitious carbon reduction targets by 2040 and are prioritising action in our highest-emitting areas. To make net-zero a reality, we have a clear plan that includes industry partners, suppliers, customers and colleagues which are integral to our transition journey. Only then, we will be able to transform our business and drive meaningful change.”